PORTLAND, OR – Cohen, a national real estate capital services firm, today announced that it has secured an $11.95 million loan to refinance the Quatama Village Apartments. Quatama Village is located at 380 NW Gina Way in Aloha, Oregon. The 207 unit property was built in 1996 and is located across the street from the Quatama Max Light Rail Station.
Peter C. Norrie, Managing Director of Cohen Financial’s Portland office, arranged the 4.35 percent fixed rate10-year term loan with a 30-year amortization schedule. The loan is nonrecourse and included a 90 day forward rate lock. The lender is Freddie Mac. The borrower is a long-time multifamily investor with numerous apartment properties in Oregon.
“The Portland apartment market remains tight in terms of vacancy, and the subject property was 98 percent leased at closing with good historical operations,” said Mr. Norrie. “The borrower is a long-time Cohen Financial client. Given the relatively conservative request, strong local market, borrowing and operating track record of the borrower and property, this was an attractive loan for the lender with good terms for our client.”
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, loan administration and advisory services. The company was named top originator for specialtyin the MBA 2012 Commercial Real Estate/Multifamily Finance Firms--Annual Origination Volumes report. Cohen Financial is well recognized as one of the nation's leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company recently launched an Equity Practice to help borrowers complete their capital needs and an enhanced Capital Advisory and Valuation Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.